Tax implications of the 3rd "R" of the BRRRR strategy?

[Nicholas Lohr]

I currently live in San Francisco but have chosen for my first deal to go to Sacramento. (for obvious reasons)  

At the moment I'm in the 1st R (rehab) of the strategy but I'm curious if anyone knows about the tax implications of the 3rd R (refinance) part?  I'd definitely like to get my investment out (the down payment and the rehab cost) but do I have to factor in a big tax payment for that similar to what a seller of a property would experience? thanks!